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Web-browser pioneer Marc Andreessen resigned from the board of eBay Inc ahead of the online marketplace's breakup, following a verbal battle with activist investor Carl Icahn over the company's PayPal unit.
Andreessen, 43, co-founder of Netscape and a director at Hewlett-Packard Co, said in a statement on Monday the decision to separate marks the right time for him to step down. He has "complete confidence" in the ability of eBay CEO John Donahoe and the board to lead the company's split, according to the statement. In a contentious campaign earlier this year over the company's handling of PayPal, Icahn singled out Andreessen and fellow director Scott Cook, accusing them of conflicts of interest, which Andreessen and eBay disputed.
In April, EBay announced an agreement with Icahn, 78, that avoided a proxy contest, and EBay went on to unveil the PayPal spinoff last month, though Icahn and Andreessen continued to criticise each other.
In an interview with Bloomberg Television earlier this month, Icahn said Andreessen is "what's wrong with corporate America." Andreessen, who told CNBC Icahn lies and "makes stuff up," added that Icahn quote to his biography on his Twitter Inc. profile page.
